Since this question involves three different cryptocurrencies, I’d answer it in three parts: one for each cryptocurrency. Therefore, by the end, you’d have a clear picture on which cryptocurrency you should sell or retain at the end of the day.
Should You Sell Bitcoin?
Put simply, No! You don’t have to be a rocket scientist to decipher the reasoning behind this answer, rather, a mere glance at the Bitcoin market would be enough.
The start of 2018 is what people described as the best period ever to be a Bitcoin owner. Enthusiasm was over the moon, the media had learned to differentiate crypto from a Ponzi scheme, and more importantly – the price of one Bitcoin was worth over $10,000.
Now, compare the January price of Bitcoin to that of today. While one Bitcoin was worth around $10,000 in January, it is currently worth just over $9,300. While it isn’t as good as the best days of December, the price isn’t as bad either as the gloomy evenings of late January.
In other words, the way the Bitcoin market is going at this time should give the Bitcoiners more than enough reasons to retain their Bitcoin.
So, you should NOT sell your Bitcoin now.
Should You Sell Litecoin?
Once again, No! In case you are wondering, the reason behind this answer isn’t the same as that behind Bitcoin’s. Instead, Litecoin has impressed me with one particular feature which other cryptocurrencies could only dream of: lack of volatility.
Yes, you heard it right. In Litecoin, we have a cryptocurrency which is more immune to market events than even Bitcoin. Need proof? Compare today’s value of Litecoin to that of the gloomy days of January when naysayers were predicting the end of the whole crypto market.
For, in January, one Litecoin was worth $163. Today, it costs just over $150. Compare its decrease in value with that of Bitcoin, whose value decreased from just under $20,000 in December last year to $8,000 in March 2018, and you’d see that Litecoin is the most stable cryptocurrency.
How does its stability impact your decision to buy or sell Litecoin? It does, because, investing your savings in Litecoin is your safest bet in the whole crypto market.
Yes, even if you invest a large chunk of your savings in Litecoin – which I don’t recommend – there would be very little chance that all of that would be lost in event of a crash.
Therefore, if you belong to the category of mature investors who prefer stability over risky over-night profits, you should NOT sell your Litecoin.
Should You Sell Ethereum?
Once again, the answer is a resounding NO from my side, and the reason is same as it was in the case of Bitcoin. That is, while the price of Ethereum no doubt nosedived when the crash came in January 2018, its price since then has stabilized.
For instance, at the start of February when the whole Crypto market was in a downturn and nobody wanted to be a crypto investor, Ethereum was at its lowest ebb, with one Eth costing $695. Today, however, the times have changed, with one Eth costing just under $700.
Agreed, it is not the best value that Ethereum has managed in the last 6 months – which was on January 14 when its value was $1385, but it isn’t its lowest value either – which was on November 2 last year when one Ether was worth $289.
So, just like Bitcoin, Ether has bounced back. And it is time that you be more patient and hold Ether so that you could later sell it at maximum profit.
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